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Santander offers up to £500 cashback for green home loans

Santander offers up to £500 cashback for green home loans
Anna Sagar
Written By:
Anna Sagar
Posted:
09/05/2024
Updated:
09/05/2024

Santander is offering up to £500 cashback for homeowners and landlords when taking out a loan to make energy-efficient property improvements.

As part of Santander’s revamped Greener Homes Hub, it is offering cashback of £250 or £500 when borrowing money to make green upgrades to property.

Mortgage and personal current account customers can bag £250 cashback when borrowing between £5,000 and £9,999, and £500 when borrowing £10,000 or more.

To get the cashback, improvements must be completed by one of the following companies:

  • Octopus Energy
  • Vibrant
  • MakeMyHouseGreen
  • Fusion8
  • MyEnergi

 

The lender also confirmed its partnership with Octopus to offer customers information on the design and installation of solar panels and £500 off the installation price.

Meanwhile, Santander has also teamed up with Vibrant, which offers mortgage or current account customers a free EPC assessment to help understand the steps required to improve a property’s energy efficiency.

The EPC Plus Service with Vibrant also connects customers with reputable tradespeople to carry out improvement works.

The move comes after Santander launched its Tomorrow’s Homes report, which called on the Government to help homeowners and renters improve energy efficiency, lower bills and reduce energy loss.

The report called for more upfront grant support, for the Government to take a role in creating an online tool to educate about reports, Government support to lenders offering financing options for green improvements and increased support for the supply chain.

In an interview with our sister title Mortgage Solutions, Michael Taylor, head of retail green finance at Santander UK, said that decarbonisation is the “biggest challenge” to UK housing.

Related: Santander suggests stamp duty rebate and financial support for greener homes